Firm news
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Firm news, tax planning and finance blogs by our team
We know how important it is for you to be able to find up to date business information, and our people love to share their knowledge about the news, and accounting and tax legislation. Here you will find links to our latest press releases, as well as tax planning and finance blog posts – all written by the Whitley Stimpson team, so you can read our take on topical subjects, and use our advice to help you to run your business. We have also shared the odd blog post or two about what we get up to in our communities, because we are proud to be a part of the areas where we live and work, and to support them where we can.
Join in the conversation, we would love to hear from you.
Share schemes expanded
Several investment schemes provide a basket of tax reliefs to individuals who are prepared to risk their money by subscribing for new shares in small trading companies.
Crack down on cloned companies
The National Crime Agency estimates that £78m was lost in cloned companies scams in 2020 and that is probably an underestimate as many frauds are not reported.
Tax incentives in investment zones
The Government wants to designate up to 38 areas across England as investment zones which will benefit from special tax reliefs and relaxed planning laws.
Companies spared tax rise
The new Chancellor Kwasi Kwarteng has decided to keep the main rate of corporation tax at 19% at all profit levels.
Home buyers to pay less stamp duty
The Chancellor has announced that the entry threshold for SDLT payable on residential properties would double to £250,000 for deals completed on or after 23 September 2022.
IR35: contractors delighted by changes
The Chancellor has said that he will abolish the hugely complicated off-payroll working rules from 6 April 2023.
NIC cut in November
The Government has decided to reverse the 1.25 percentage point increases in national insurance contribution (NIC) rates which were introduced from 6 April 2022.
Income tax cuts next year
In last week’s Budget the Chancellor stunned his audience by announcing that both the basic rate of tax and the highest ‘additional’ rate would be reduced from 6 April 2023.
Put family first for tax efficient succession planning
Businesses take years to build up with the owners spending the best part of their lives ensuring they are successful. But what happens when it is time to retire? An obvious solution is to pass on the company to family, but care should be taken to avoid a considerable tax bill.
Why you should get a head start on your self-assessment now
We believe that getting ahead of your taxes is a perfect way to reduce avoidable stress. Here’s why you should get a head start on your self-assessment now.
VAT portal to close
All VAT registered businesses are now required to file VAT returns using MTD-compatible software and keep VAT records in a digital format. This applies from the start of the first VAT period for newly registered businesses.
Reporting UK property gains
In 2020 HMRC introduced a new system for paying capital gains tax (CGT) due from selling residential property in the UK, but many solicitors and estate agents are still unaware of the new requirements.
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